GoM clears bill to raise insurance FDI (The Hindu)

Insurance News -
Wed, 10/22/2008 - 03:51

New
Delhi: A bill to raise the FDI cap in the insurance sector to 49 per
cent from the current 26 per cent has been cleared by the Group of
Ministers and is to be placed before the Cabinet, Rajya Sabha was
informed on Tuesday. — ...

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Story - ICICI Prudential's success story

ICICI Prudential's success story It is a real life story. A story of an insurer that has managed to hold on to its lead in the marketplace for seven years. ICICI Prudential, a joint venture between ICICI Bank and Prudential UK, has been around ever since the private sector was allowed to sell life insurance policies. Since then the tribe of life insurers has grown from 12 to 16, but ICICI still leads the private sector pack. With a portfolio of over 6.5 million policies, India's biggest private sector life insurer has not merely held on to its share but grown it; at the end of January 2008, the firm commanded 29 per cent of the share owned by private sector players. Quite some way below was Bajaj Allianz with 21 per cent, while State Bank of India came in third with 10 per cent. How did ICICI achieve that? Says Ashvin Parekh, national leader, financial services, Ernst & Young, "Their strategy has been to grow the portfolio large enough so ...

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